Life Insurance

None of us wants to think about leaving financial burdens behind for loved ones to handle. Neither does one want to think about the possibility of an unexpected death. But what would make this scenario even worse is not having prepared for it. Life insurance has traditionally been the solution.

Life insurance is a vital financial and estate planning tool. If you desire peace of mind for yourself and your loved ones, it will ensure that funds will be available to meet their needs.

One of the additional benefits of life insurance is providing retirement income. We do not usually think of life insurance as a retirement tool, but cash values and tax deferred accumulation can provide an excellent source of additional income, depending on the type of policy.

Best of all, life insurance proceeds pass income tax free to your beneficiaries. Some may wish to transform taxable assets into tax free assets, as well as the ability (through insurance trusts) to remove assets from your estate.

"Equity Indexed" Life insurance provides: tax free benefits to heirs, tax deferral of income and growth, growth potential tied to market indices with no downside risk, AND the ability to set up a tax free retirement income.

To use a life insurance policy to save for college funding, major purchases such as cars, vacations, and other big ticket items, or for retirement income, you'll want  your policy designed in a way to accelerate the growth of savings;  this type of dividend-paying whole life insurance can be designed by a  Bank On Yourself advisor.


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For more information on any of these insurance products or ideas, call our office for quotes or illustrations.